| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers W > Headlines for Wells Fargo Bank NA > News item |
Wells Fargo plans to price 1% quarterly capped CDs linked to S&P 500
By Angela McDaniels
Tacoma, Wash., March 3 - Wells Fargo Bank, NA plans to price 1% quarterly capped certificates of deposit due March 31, 2016 linked to the S&P 500 index, according to a term sheet.
Interest will be payable semiannually.
The payout at maturity will be par plus the sum of the returns on the index for each of the 24 quarters making up the life of the CDs minus 6%. The payout is subject to a floor of par.
The return of the index in each quarter could be positive or negative and will be capped at 6% to 8%. The exact cap will be set at pricing.
The CDs are expected to price March 24 and settle March 31.
Incapital LLC is the distributor.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.